APAM Financials Artisan Partners Asset Management Inc.
15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 5.9% per year over the past 5 years.
Net income has grown faster than revenue (6.4% vs 5.9% per year).
Operating margin has contracted, at 33.4% in the latest year.
Free cash flow has declined 11.5% per year over the past 5 years.
Financial health
The company holds more cash ($256M) than total debt ($189M).
Total debt has grown slower than revenue (-1.0% vs 5.9% per year).
Operating income covered interest expense 47× in the latest year.
Total debt is 0.5× EBITDA.
Shareholder returns
Dividends have been paid for 13 consecutive years, consuming 88.6% of earnings and 149.8% of free cash flow.
The dividend has grown 4.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$1.2B
$290M
0.0%
33.4%
$172M
$189M
$256M
2024
$1.1B
$260M
0.0%
33.0%
$371M
$199M
$268M
2023
$975M
$222M
0.0%
31.1%
$251M
$199M
$178M
2022
$993M
$207M
0.0%
34.6%
$306M
$199M
$143M
2021
$1.2B
$337M
0.0%
44.0%
$396M
$199M
$201M
2020
$900M
$213M
0.0%
39.8%
$317M
$199M
$199M
2019
$799M
$157M
0.0%
35.5%
$289M
$199M
$144M
2018
$829M
$158M
0.0%
36.8%
$330M
$199M
$176M
2017
$796M
$50M
0.0%
36.0%
$224M
$199M
$160M
2016
$721M
$73M
0.0%
32.5%
$267M
$199M
$157M
2015
—
$82M
—
—
$317M
$199M
$167M
2014
—
$70M
—
—
$347M
—
—
2013
—
$25M
—
—
$110M
—
—
2012
—
$0
—
—
$127M
—
—
2011
—
$0
—
—
$102M
—
—
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$303M
$58M
0.0%
31.1%
$181M
$189M
$300M
Dec '25
$336M
$95M
0.0%
39.2%
-$77M
$189M
$256M
Sep '25
$301M
$67M
0.0%
33.8%
$40M
$189M
$342M
Jun '25
$283M
$68M
0.0%
28.2%
$51M
$200M
$312M
Mar '25
$277M
$61M
0.0%
31.2%
$158M
$199M
$259M
Dec '24
$297M
$70M
0.0%
36.7%
$37M
$199M
$268M
Sep '24
$280M
$73M
0.0%
33.3%
$112M
$199M
$280M
Jun '24
$271M
$58M
0.0%
32.0%
$75M
$199M
$233M
Mar '24
$264M
$59M
0.0%
29.4%
$147M
$199M
$229M
Dec '23
$249M
$65M
0.0%
30.7%
-$11M
$199M
$178M
Sep '23
$249M
$53M
0.0%
33.0%
$80M
$199M
$231M
Jun '23
$243M
$54M
0.0%
31.6%
$62M
$199M
$198M
Mar '23
$235M
$51M
0.0%
29.1%
$121M
$199M
$173M
Dec '22
$226M
$53M
0.0%
31.0%
$5M
$199M
$143M
Sep '22
$234M
$44M
0.0%
33.6%
$85M
$199M
$188M
Jun '22
$251M
$44M
0.0%
35.2%
$26M
$200M
$164M
Mar '22
$282M
$65M
0.0%
38.0%
$190M
$200M
$204M
Dec '21
$315M
$85M
0.0%
43.7%
-$6M
$199M
$201M
Sep '21
$317M
$86M
0.0%
45.2%
$144M
$199M
$290M
Jun '21
$305M
$88M
0.0%
45.2%
$66M
$199M
$242M
Valuation over time
How the market has priced APAM against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 12.5× (Mar '23) to 9.7× (Jun '26).
The price-to-sales ratio has fallen from 2.6× (Mar '23) to 2.4× (Jun '26).
The dividend yield has fallen from 9.6% (Mar '23) to 9.1% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is APAM growing its revenue and profit?
Over the past 5 years, Artisan Partners Asset Management Inc.'s revenue has grown 5.9% per year, and net income grown 6.4% per year. These are computed facts, not advice.
How much debt does APAM have?
As of FY2025, Artisan Partners Asset Management Inc. reported $189M of total debt against $256M of cash; operating income covered interest expense 47×.
What is APAM's profit margin?
In FY2025, gross margin was —, operating margin 33.4%, and net margin 24.3%.
What is APAM's P/E ratio?
As of Jun '26, Artisan Partners Asset Management Inc. traded at a price-to-earnings ratio of about 9.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.